What is NEM (XEM)? | Cryptocurrency 2018
NEM (XEM)’s model is the future of cryptocurrencies
Xem Coin Future Price , and prices are a pale shadow of their December highs. So what’s the future of this market? To understand its future, you need to understand the issues facing it at the moment. The first issue that is facing this market at the moment is that of hoarding.
Cryptocurrencies are trying hard to be accepted as currency, but hoarding is making that almost impossible. Cryptos are so speculative that no one wants to spend theirs, out of the fear that prices might shoot up in the future. No one wants to be like the guy that bought pizza for 10,000 bitcoin. Unfortunately, the market can only grow if people start spending their cryptos. Otherwise, volumes will decline over time, and will eventually dry up. It’s probably the reason why
Litecoin is encouraging crypto spending, using the #paywithlitecoin hashtag
The other problem facing cryptos at the moment is that of centralized mining. Crypto in its true essence is supposed to be decentralized. Unfortunately, this is not possible with the proof-of-work mining that is employed by bitcoin and many other cryptos in the market. Proof-of-work simply gives control to those who have the money to buy mining equipment. While the prove-of-stake algorithm was thought to be the solution for this problem, it has simply created another problem. Prove-of-stake has created the problem of hoarding, which we have discussed above, thereby defeating the whole essence of cryptos as currencies.
So what’s the future? How can we ensure that the crypto market stays liquid, while at the same time keeping it fully decentralized? The answer lies in the model that is used by NEM (XEM). NEM makes use of a mining algorithm that known as the
Proof of importance rewards people who hoard coins, just like it is done in the prove-of-stake mining algorithm. However, under proof-of-importance, you are only required to hold coins in your wallet for only a few days. On top of that, you get to earn a percentage based on the unvested (free and spent) coins. In other words, this model encourages you to spend your coins. In the case of NEM (XEM), you get to earn 10% of your unvested coins.
If all other cryptos were to adopt this model, we would see a massive increase in crypto volumes. That’s because people would be spending their coins, and not just hoarding, hoping that prices would rise in the long-run. Spending coins would also stabilize prices, and make cryptos more acceptable as money. It’s actually the reason why so many people were interested in Litepay, before things went haywire.
Now that we know the power of the proof-of-importance model, I believe
is a fundamentally sound crypto to invest in. Other than its technical capabilities, Xem Coin Future Price , it won’t be far-fetched to conclude that NEM (XEM) is highly undervalued at the moment. It’s a trailblazer!
Ripple (XRP)’s Chief Strategist talks about Cross-Border Payments and xRapid on Bullseye
Dash Coin (DASH) Price Surges After the Coin Enters the Venezuelan Market as Dash CEO Faces the “Sack”
Stellar Lumens (XLM) – Fiat Withdrawals Now a Reality via White Standard (WSD) Coins
Cardano’s (ADA) Charles Hoskinson Pouring Praises on BitTorrent
Xem Coin Future Price
Investor Insight: How to Assess Potential Buy Cryptos ; Focus On ICON (ICX)
Ripple XRP – A more tempered look at XRP as a supra national currency
TRON (TRX) Clarifies Block Rewards with another TRX Coin Burn
Misconceptions of Verge (XVG) explained and how the price can soar 250% in 2018
Dash Coin (DASH) Price Surges After the Coin Enters the Venezuelan Market as Dash CEO Faces the “Sack”
Stellar Lumens (XLM) – Fiat Withdrawals Now a Reality via White Standard (WSD) Coins
Cardano’s (ADA) Charles Hoskinson Pouring Praises on BitTorrent
Digibyte (DGB) – ICOs squandering capital: A reason to go for projects like DGB
Xem Coin Future Price
0 Reviews:
Post Your Review